| Singapore state fund Temasek Holdings and the country’s sovereign wealth fund GIC, alongside other sovereign funds, will be investing an additional S$739 million ($590.1 million) into Citic Securities, a broking firm, which is raising $3.495 billion in capital via a placement of new shares to 10 institutional investors.
China’s largest brokerage by market value, Citic is planning to sell 1.1 billion new Hong Kong-listed shares at HK$24.60 ($3.17) each. This is a 19 per cent discount from Monday’s closing price. Citic CLSA was the sole bookrunner, while Citic Securities International was the sole global coordinator of the deal. The 1.1 billion shares represent about 10 per cent of the total existing share capital at this time...............................................Full Article: Source
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